Business

Business

Time for equity: Deepening financial sector requires private equity

When faced with the daunting task of having to raise capital to finance its growth, a business has two options to consider – debt which is effectively, borrowed money, or equity, representing owners’ contributions. As the “residual claimants”, the economic agent with the sole remaining claim on the net cashflows […]

Mr George Blankson — Commissioner-General, GRA
Business Homeland News

Government extends Subah contract

The government has extended its contract with Subah Infosolutions to continue to monitor the country’s revenue in the telecommunications sector for the Ghana Revenue Authority (GRA). According to a letter dated December 1, 2016, issued by the GRA and signed by its Commissioner-General, Mr George Blankson, the contract extension had […]

Business

Ghana: Ponzi Scheme Concerns in Ghana

Ponzi schemes are becoming a big worry for Ghana’s financial sector. Ghanaians are on high alert after a Russian-backed Ponzi scheme which was banned in Nigeria is emerging in their country promising huge profits. Ghana’s financial sector is currently struggling to recover from a major financial crisis involving Ponzi investment […]

Ghana cedis
Business Homeland News

Third Quarter GDP rises to 4% in Ghana

The provisional year-on-year 2016 third quarter (Q3) Real Gross Domestic Product (GDP), including Oil, grew by 4.0 per cent compared to 3.5 per cent recorded for 2015 Q3. Acting government statistician Mr Baah Wadieh attributed the growth to the resumption of oil production from the Jubilee Field and the start […]

President-elect Nana Akufo-Addo
Business Homeland News Politics

This is a season for renewed hope – President-elect

Nana Addo Dankwa Akufo-Addo, the president-elect, has said this Christmas season is a period for renewed hope and a time to remember our neighbours in need. The president-elect in his goodwill message said: “As we give and receive the goodwill of Christ in this Christmas season, let us be mindful […]

Business

World Bank sets aside $517m to boost oil production in Ghana

THE World Bank Group has said it would provide $517 million to Ghana in debt and guarantees to support the $7.7 billion Sankofa oil and gas project being developed by Italy’s oil giant ENI and upstream trader Vitol Ghana. The finance adds to a $700 million guarantee package and brings […]

A Market Scene in Ghana
Business Homeland News

After suspending operations in Nigeria, a controversial Russian Ponzi scheme has set up in Ghana

Marvodi Mondial Movement (MMM), a 27-year old Russian Ponzi scheme that’s caused distress in a few African countries is adding a new country to its list. A week after suspending operations in Nigeria, the scheme which describes itself as a “mutual aid fund” has started operations in Ghana, Nigeria’s West […]

Ghanaian women trying on Garmin's watch
Business Health Science & Tech

Expanding fitness wearables in Africa, Garmin launches a watch line in Ghana with MTN

Garmin has partnered with mobile telecom giant MTN to launch a line of fitness watches in Ghana. The GPS navigation and sports tech company will offer its vivoFit3, vivoMove, vivoActive, Fenix3, and vivoSmart activity trackers through select MTN Ghana distribution outlets. In addition to MTN’s latest smartphone options, fitness conscious Ghanaians […]

Cycil Jones Abban at his studio Parables Production.
Business Entertainment Science & Tech

Meet the Passionate Artists Who Are Building An Animation Industry in Ghana

For almost two years Cycil Jones Abban, now 37, managed a pharmacy and spent his nights animating. Like the cartoonist Batman of Ghana’s capital, Accra, Abban started by working from his home, and eventually, he became the head of his own studio, Parables Animation Studios (pictured at top). The movies […]

FILE PHOTO: Cocoa beans are pictured in Ghana's eastern cocoa town of Akim Akooko September 6, 2012. REUTERS/Kwasi Kpodo/File Photo
Business

Incoming Ghana government gives cocoa sector chance of fresh start

By Matthew Mpoke Bigg | ACCRA Ghana’s incoming government could give the country’s $2 billion cocoa industry a boost if it installs a more transparent executive at industry regulator Cocobod and implements reforms, industry sources said. The New Patriotic Party (NPP) said its priority is to push annual cocoa output […]